Minnesota Wild superstar Kirill Kaprizov has turned down a massive eight-year contract extension worth $128 million, according to sources who spoke with insider Frank Seravalli on Tuesday.
The proposed deal would have set new NHL records for both total value and annual salary at $16 million per year, as Seravalli reported.
With Kaprizov scheduled to become a free agent after this season, he became eligible for contract negotiations starting July 1. Wild owner Craig Leipold expressed optimism last week about reaching a deal, stating his belief that Kaprizov's eventual contract would break league salary records.
Currently, Edmonton Oilers star Leon Draisaitl holds the NHL's top annual salary at $14 million. However, this record appears destined to fall soon, as several elite players including Connor McDavid, Jack Eichel, and Kaprizov will all be able to negotiate extensions or explore free agency in 2026.
Since arriving in Minnesota for the 2020-21 season, Kaprizov has emerged as the franchise's premier talent. The winger captured the Calder Trophy as rookie of the year and has accumulated 386 points across 319 games. Despite being considered an MVP candidate during the 2024-25 campaign, an injury limited the 28-year-old to just 41 games, though he still managed to finish third in team scoring.
Originally drafted by Minnesota in the fifth round of 2015, Kaprizov spent five seasons playing in the KHL before making the jump to North American hockey.
Kaprizov currently leads Wild players in salary with a $9 million cap hit, and his existing contract features a no-movement clause, per PuckPedia.
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